In response to recent challenges faced by the Ghanaian cedi, Minister of Finance Dr. Mohammed Amin Adam has issued a warning against speculative activities.
His remarks follow criticism from MP Isaac Adongo, who advised businesses to secure dollars despite assurances from the Minister regarding exchange rate stability.
Addressing concerns at a joint press conference with the Bank of Ghana and IMF officials, Dr. Amin Adam criticized Adongo’s comments and reaffirmed the government’s commitment to stabilizing the currency.
“The volatility of the cedi can largely be attributed to speculation,” Dr. Adam remarked. “While we strive to foster positive market sentiment through our policies, there are actors deliberately inciting speculation.”
He further expressed disappointment in the opposition’s approach, urging constructive engagement over divisive actions.
“It is detrimental to our economy,” Dr. Adam added. “I implore our colleagues in the minority to refrain from inciting speculation and instead collaborate with us to strengthen our economic efforts.”
Dr. Adam concluded by emphasizing the importance of unity in achieving economic stability for the benefit of all stakeholders.
